Hyundai Sonata Transform [2009-2011] Car Loan EMI Calculator

₹ 31,099.
Here is how - Hyundai Sonata Transform [2009-2011] price starts from ₹ 17,27,650 in Mumbai. If you pay a down payment of ₹ 1,93,879 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 31,099.

The cheapest Sonata Transform [2009-2011] model is 2.4 VTVT which is priced at ₹ 17,27,650 in Mumbai. You will need to pay at least a ₹ 1,93,879 down payment to buy this model.

Note: Down payment is the amount you would pay upfront to buy your car. Bank give you a loan for the remaining amount.

Here is a model wise list of max loan amount for Sonata Transform [2009-2011].

Version	On-road price in Mumbai	Max Loan
2.4 VTVT	₹ 17,27,650	₹ 15,33,771
2.0 CRDi M/T	₹ 19,00,959	₹ 16,88,971
2.0 CRDi A/T	₹ 20,14,520	₹ 17,90,667

As a thumb rule, you can get a maximun loan of up to 100% of the ex-showroom price.

Good Practice will be to chose the shortest possible tenure for which you can afford an EMI amount.

• 1. If you select a higher tenure loan, let's say 7 years, your EMI for Sonata Transform [2009-2011] 2.4 VTVT will be ₹ 26,928 but you will have to pay interest of ₹ 7,28,181 over the period of 7 years.
• 2. If you select a lower tenure loan, let's say 3 years, your EMI amount will be higher at ₹ 54,138, but your interest payment will be only ₹ 4,15,197 over the 3 years period.

₹ 31,099
Hyundai Sonata Transform [2009-2011] price starts from ₹ 17,27,650 in Mumbai.

We have considered
Down-payement : ₹ 1,93,879
Tenure : 5 years
Interest Rate : 8%

You will need to fulfill the following 2 criteria to buy Sonata Transform [2009-2011] with a loan

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 5,76,000

As a general rule, banks or other lenders offer you a car loan 3 to 4 times your annual income. Considering the on-road price of Sonata Transform [2009-2011] starts from ₹ 17.28 Lakh, you can get a loan with an annual income as low as ₹ 5.76 lakh.

Here are the most important things you should consider while getting a car loan for a new Sonata Transform [2009-2011]

• 1. Interest rate - Go for the loan with the lowest interest rate.
• 2. Additional Charges - processing fee, prepayment charges, late payment penalty are some of the important points you need to check before taking a loan.
• 3. Tenue and Max Loan Amount - Select a lender who gives you a loan that you can afford.
  -If Max loan amount is lower, you will have to shell out more money upfront to buy the car.
  -If Tenue is lower, your per month instalment amount will increase.
• 4. Eligibility - Banks may have stricter eligibility requirements compared to NBFCs or other financial institutions.